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    For Sale - 207 Alice Street, Cornwall, Ontario

    Est payment $2,521/mo
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    Views   3
    Time on Jump  11 day

    AI Summary *

    • Great fourplex investment close to St. Lawrence College and amenities.
    • Each unit has 2 bedrooms and 1 bathroom, appealing to tenants.
    • Dedicated parking spaces for each tenant located in front.
    • Current annual income around $67,000 with over 10% cap rate.
    • Convenient access to public transportation just 200 meters away.




    Excellent fourplex investment opportunity - 10%+ cap rate! Located just 500m from st. Lawrence college, this well-located fourplex offers an excellent opportunity for investors looking to add a multi-residential property to their portfolio. The property is also approximately 900m from a grocery store and other amenities, with the nearest bus stop just 200m away. Each of the four units features 2 bedrooms and 1 bathroom, providing a practical and desirable layout for tenants. Each tenant has the right to one parking space located in front of the building. Current monthly rents: 207: $1,350/month - tenant pays own electricity, 207a: $1,750/month - landlord pays utilities, 207b: $1,250/month, 207c: $1,250. 73/month. The property currently generates approximately $67,208. 78 in total annual rental income, with estimated annual operating expenses of approximately $14,686. 55, resulting in an estimated net operating income of $52,522. 23. Based on the current income and expenses, the property offers a cap rate of over 10%, making this an attractive income-producing opportunity for investors. The property currently has a gas furnace serving both upper-level units, while the two main-level units have been converted to electric baseboard heating, allowing the tenants in those units to be responsible for their own electricity consumption. With four 2-bedroom units, dedicated parking, convenient access to public transportation, nearby amenities, and its close proximity to st. Lawrence college, this property presents an opportunity for both experienced and first-time investors. As per form 244 offers to contain a 48-hour irrevocability. All showings require minimum 48 hours notice.
    Listing IDX13801788
    Address207 Alice Street
    CityCornwall, Ontario
    Price$525,000
    Bed / Bath8 / 4 Full
    Style2-Storey, Fourplex
    ConstructionBrick
    TypeMulti-Family
    StatusFor Sale

    Subtype FourplexIndoor Features Carpet Free, Water MeterOwnership FreeholdBasement UnfinishedFoundation ConcreteHeating / Cooling BaseboardHeating Fuel OtherSewer Sewer

    Parking 4.00
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    Listing Brokerage: RE/MAX AFFILIATES MARQUIS LTD.

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    207 Alice Street
    Cornwall , Ontario
    8 4 $525,000
    Get more info